African Economists Push For Industrialization

Increasing inequality and youth unemployment on the continent require policies to diversify investment sectors. And fears of seeing the situation worsen are growing, especially with the lack of proper policies to counter the challenges facing African governments.

Eggoh Jude, an associate professor at the University of Angers France says:“Today it is up to our states to take the lead. Today, it is no longer necessary to export raw materials to developed countries, but we must try to create processing industries at the local level to employ the population, redistribute income and reduce the level of poverty. “

55% of foreign direct investment in Africa today is driven by the potential of domestic markets. A boon that justifies the attractiveness of the continent on the outside.

“There is a lot of know-how in Africa today in very different sectors. We need to find ways to connect them to those who have the technologies and the markets,” says Bakary Traoré, an OECD economist

Growth, whatever its rate of accentuation, is good only when it benefits all the social strata of a population. This is why African states need to quickly launch initiatives to help improve income redistribution.

Objective: to eliminate the inequalities observed in the populations, and create jobs especially among the youth and women.